Corporate share repurchases have turned out to be a great mechanism for converting Federal Reserve easing into higher consumer spending. Just allow public companies to borrow really cheaply and one of the things they do with the resulting found money is repurchase their stock. This pushes up equity prices, making investors feel richer and more willing to splurge on the kinds of frivolous stuff (new cars, big houses, extravagant vacations) that produce rising GDP numbers.
The circumstances in 2014 were different than they are today. Back then, the FCC clearly intended to impose at least some restrictions on paid prioritization, and ISPs were trying to avoid the Title II classification. Comcast had also agreed to some limitations on paid prioritization as a condition on its 2011 purchase of NBCUniversal.
Example: Chicago has offered to let Amazon pocket $1.32 billion in income taxes paid by its own workers. This is truly perverse. Called a personal income-tax diversion, the workers must still pay the full taxes, but instead of the state getting the money to use for schools, roads or whatever, Amazon would get to keep it all instead.
“The result is that workers are, in effect, paying taxes to their boss,” says a report on the practice from Good Jobs First, a think tank critical of many corporate subsidies.
Unification Minister Cho Myoung-gyon, South Korea’s lead official on North Korea, also said his government was closely monitoring missile-related activities in North Korea for a possible resumption of tests. North Korea has not conducted a missile test since Sept. 15. The hiatus has raised cautious hopes in the region that the country might want to de-escalate after a series of missile and nuclear tests earlier this year and instead focus on bracing its economy for the pain expected to result from fresh sanctions.
Don’t Make This Retirement Mistake (Tiffany D.)
You wouldn’t go out to sea without knowing precisely how much fuel, water, food and other essentials you had on board. After all, your life depends on it.
But there’s a good chance you’re heading into retirement with a faulty figure for your net worth…
How Opioids Started Killing Americans (jdargis)
According to the National Institute on Drug Abuse, more than 33,000 Americans died from opioid overdoses in 2015. Most of those deaths were linked to prescription pain pills, though the use of heroin was already growing rapidly, accounting for almost 13,000 fatalities that year. The scourge has continued to inundate America’s health care infrastructure. An analysis published this week by OM1 Inc., a company that uses artificial intelligence to improve health outcomes, found that in the second quarter of 2017, one out of every six emergency room visits in the U.S. was opioid-related.
OPEC’s Impossible Task (Michael K.)
The difficulty for OPEC, as Bloomberg Gadfly notes, is that the estimates for how much supply the U.S. will add next year differ by a wide margin. The IEA predicts non-OPEC supply growth by about 1.4 million barrels per day (mb/d) in 2018, a massive sum that would overwhelm demand. In this view, the OPEC cuts are badly needed to avoid another price collapse. OPEC is more hopeful that the shale industry will struggle; the cartel only predicts non-OPEC supply growth of less than 900,000 bpd next year.
Customers are charged just pennies per 30 minute ride, but competing companies have flooded cities with bikes to ensure cycles are always available. The top two firms have each raised more than $1bn (£750m) in funding.
Shanghai currently has 1.5m shared bikes on the streets, and despite its population being three times greater than London, that number far outstrips the 11,000 Santander Cycles peppered throughout the UK capital.
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